Sure it will - you can set up different activities for each. For example I have "Watch TV" for watching just the TV, and "Watch HDTV" for when I want to use the amp. It's not complicated really. And if there is something oddball that you do now and then that you do not want an activity for, just do it manually through the device mode - for example I will sometimes turn on the radio manually while watching TV. Just anything you turn on manually, you have to turn off manually (like any other remote). If you do not like that, simply create an activity including it.

If you are really stuck on the extra soft buttons then go for the other remote - but the harmony will do everything you want it to - however, if you don't like harmony remotes for whatever reason, don't get one :)